FinChatBot

With over 2 billion active users and more than 65 billion messages exchanged on WhatApp every day, it simply makes sense for businesses to communicate with customers where they already are.

This results in several possible outcomes for businesses:

  • Increased customer satisfaction: Customers can engage with their favourite brands on a platform where they are. There is no need to learn or adapt to any new system or app. Putting the customer at ease results in greater satisfaction.
  • Increase operational efficiency: Many customers today still employ the use of call centers for both complex and relatively simple customer requests and queriers. By introducing WhatsApp for Business as an alternative means of handing simple, repetitive types of requests, businesses can improve operational efficiency and enable agents to focus on resolving more complex customer needs.
  • Reduced operational costs: Diverting more simple types of queries away from the call center to a channel where customers are effectively able to help themselves will greatly reduce the pressure on the call center and help businesses drive costs down.

What’s more, WhatsApp for Business enables brands to send rich media to customer via WhatsApp including PDF documents, gifts, images and other media to ensure the best customer experience.

There are three main types of messages businesses can send to customers on WhatsApp for Business:

  1. Conversational messages: These are messages which are initiated by the customer on WhatsApp, who interacts with the specific company via the app. To do so, customers need to add the business as a contact on their mobile device, either by adding the business contact number, clicking on a link on the business website, or scanning a QR code. Conversational messages are generally unstructured, with customers asking questions related to the purpose of the WhatsApp for Business service. For example, a customer may ask their bank, which has a WhatsApp for Business account dedicated for providing information, the following question on WhatsApp: ‘What documents do I need to open a new bank account?’.
  2. Template messages: A template message is pre-structured and approved by WhatsApp which is then initiated by the business. Businesses can send these messages once customers have opted in to receive these messages. When needed, businesses can send a message to resolve or serve a particular customer need. For example: once opted in, the customer can received their flight ticket directly to their WhatsApp app.
  3. Re-engagement messages: Customers can re-engage with the WhatsApp channel by sending ‘Hi’ and awaiting a response from the business. This response will typically be a menu of options available to the customer. Brands can also send a re-engagement message to customers after 24 hours to provide the menu of options it can assist with.

Maximising IVR Deflection

FinChatBot is actively searching for innovative ways to increase operational efficiency and boost customer satisfaction for its clients. One of the ways it does this is through IVR (Interactive Voice Response) deflection.

Simply put, IVR together with WhatsApp for Business, enables brands to divert simple and repetitive types of customer requests and queries to WhatsApp, such that customers can quickly and easily self-serve. Doing this greatly improves a company’s operational efficiency by allowing for the common queries to be handled within the WhatsApp for Business channel, and thus greatly reducing the load on the call center.

How to launch WhatsApp for Business for your brand?

WhatsApp Business strongly recommends that companies adopt a phased launch approach in establishing their business profiles.

Phase 1 consists of rolling the channel out to internal employees only. This provides the opportunity for “in-house” testing and feedback, allowing corporations to iron out any initial problems and eliminate any negative effects before rolling the platform out to customers.

Phase 2 recommends a rollout to a focus group of 1- 5 % of the customer group. This allows for the second phase of testing and feedback, ironing out any potential issues that were possibly missed during phase 1.

Phase 3 consists of rolling out the platform to a larger segment of customers, periodically increasing the segment as time goes on.

Written by Antoine Paillusseau (Co-Founder & CEO, FinChatBot)

 

Who is FinChatBot and how can we help you?

FinChatBot is a South African-based company that focuses on developing conversational AI Solutions for the financial services industry. Practically speaking, FinChatBot enables businesses, through multiple channels such as WhatsApp, Facebook Messenger and WeChat (to name but a few) to engage with their customers conversationally.

In developing the WhatsApp Business API, FinChatBot has opted to work closely with Vonage as their approved WhatsApp platform partner.

If you are interested in integrating WhatsApp for Business into your business to better serve customers and reduce operational costs, click here to request a demo.

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